Mar 11 • 01:48 UTC 🇰🇷 Korea Hankyoreh (KR)

LH to supply 37,000 rental houses this year, with 57% in the metropolitan area

The Korea Land and Housing Corporation (LH) announced plans to supply a total of 37,000 rental homes this year, with a significant portion targeted for the metropolitan area.

The Korea Land and Housing Corporation (LH) revealed that it will recruit tenants for a total of 37,000 rental homes across the country this year, marking a 19% increase from last year's supply. Out of these, approximately 57%, or 21,000 units, will be located in the metropolitan area, including Seoul and its suburbs. The supply consists of newly constructed and purchased rental homes aimed at addressing the growing housing demand in urban centers.

Specifically, LH plans to offer 11,000 construction rental homes and 26,000 purchase rental homes, catering to various demographics with tailored housing solutions for individuals such as young people, newlyweds, and low-income families. Various ranges of housing types will be provided, including permanent rental units, national rental homes, happy housing, and integrated public rental homes across 48 different complexes nationwide. A notable aspect of the plan includes the strategy to adjust the recruitment method to reflect more localized needs for a faster supply response.

Additionally, LH aims to support affordable housing for those in need, such as providing 700 units of guaranteed lease homes without regard to income and asset requirements and assisting 6,000 households affected by rental scams. LH's interim CEO emphasized the commitment to expanding rental housing supplies to ensure less burdensome housing costs for the underprivileged, underlining their mission to stabilize the housing market for vulnerable groups.

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